Introducing OWNdex & GENdex
The true power of OWNership
“The best time to plant a tree was 20 years ago. The second best time is now.”
- Chinese Proverb
Why do we need to introduce indices?
It is a common belief that all people should be treated equally and given equal opportunities. However, in reality, this is not always the case.
For example, in a business venture, those who invested more money or time into the business early on may be more likely to reap greater rewards compared to those who joined later or contributed less.
The same is true in planet Crypton.
Those who believed in the project early on and invested their time and money early get rewarded more.
The ownership indices are quantitative and qualitative measures of ownership within the OWN cryptoverse which provide a framework for distributing access and privileges within the ecosystem.
In simple terms, someone who owns one or few NFTs is clearly different from someone who owns a lot of NFTs.
The purpose of these indices is not to discriminate or disadvantage but to outline the path to reap maximum benefits.
What are OWNdex and GENdex?
OWNdex
OWNdex is a measurement of ownership strength within the system. It is based on:
- Number of NFTs in the OWN wallet
- The holding period of the NFTs in the OWN wallet
Having a high OWNdex score or level will unlock proportional benefits within the platform.
For eg, the amount of winnings you can withdraw at a time from your OWN wallet would be a function of your OWNdex level.
GENdex
Extending this same principle of providing perks proportional to ownership, we also have another index that measures NFT ownership but this one is specific to Genesis NFT Holders.
Genesis NFTs are considered the most valuable assets within the OWN cryptoverse.
Generation 0 or Genesis NFTs can only be launched by the platform and are in limited supply. They are like the forefathers of the Cryptonite race.
They also provide unique benefits like special breeding rewards, early access, free airdrops, and more.
The GENdex measures the ‘Genesis’ ownership strength within the system.
Think of it like an Inner Circle — a premium membership.
It is the best of the best, the cream of the cream — and having a high GENdex score opens you up to a whole new world of ‘unfair advantages’.
While the OWNdex gives you accessibility benefits, the GENdex kicks it up a notch with exclusivity and financial benefits.
How are the indices calculated?
Both indices track the number of NFTs you hold in your wallet and how long you have been holding it continuously.
OWNdex calculation
- Each day spent in the OWN wallet contributes to 1 point
- The points allotted to BNPL NFTs depend on the percentage of ‘partial ownership’
- Genesis NFTs also contribute to one’s OWNdex. It adds an extra 25% bonus.
To drive this point home, check out the example below of a player’s NFT holdings and how the individual points are calculated.
GENdex Calculation
The GENdex calculation is similar to that of OWNdex except that Non-Genesis NFTs have zero contribution to the GENdex.
- Each day spent by the Genesis NFT in the OWN wallet contributes to 1 point
- The points allotted to BNPL NFTs depend on the percentage of ‘partial ownership’
- And it goes without saying, there is no concept of 25% additional bonus for being Genesis because only Genesis NFTs are accounted in the calculation.
For a complete breakdown of points with examples, check out our guides.
One last thing to double-click on is that if the NFT reaches your OWN wallet either through purchase from the OWN Marketplace or through breeding, the points will be updated daily. But if it is transferred from an external wallet, the points are updated weekly.
OWNDex level mapping
As you continue to hold the NFTs in your wallet, your points continue to accumulate.
The mapping of ownership days to levels follows a logarithmic fashion which allows a more nuanced representation of progress or skill.
Advancing to a higher level can be seen as a significant achievement and can provide a sense of accomplishment for players.
Also, in a logarithmic level system, it becomes more difficult to advance to higher levels, which can help to balance the leaderboard and keep players from becoming too far ahead of others.
Below is a breakdown of the different levels and the corresponding number of ownership days.
For more details on each of the indices, read our dedicated articles on both OWNDex and GenDex.
Finally, to summarise, I’d like to go back to the Chinese proverb we started with…
While the best time to plant a tree (or buy an NFT) was a while ago, the second best time is now.
Want to become a part of our community?
Come join us on our Discord where we host regular community hangouts and conduct competitions and activities.
About One World Nation
One World Nation (OWN) is a play to earn gaming Cryptoverse built on Polygon. OWN is an attempt to create a more fun way for users to interact with the crypto ecosystem, and have FUN without FUD. It is also an attempt to create a sustainable play to earn the ecosystem at scale.
Visit our Website — Join the tribe, become an OWNER!
